Fueled by a drop in residential building permits, Comerica Bank's Michigan Economic Activity Index decreased slightly in November, falling two-tenths of a percentage point to a level of 131.4.

That reading is 59 points, or 82 percent, above the index cyclical low of 72.1 in June 2009. The index averaged 114 in 2012.

"Our Michigan index eased in November as residential building permits dipped following a September surge. Job growth is a positive factor for the state, but it is beginning to fall below the U.S. average," said Robert Dye, the bank's chief economist, in a news release.

In November, Michigan payrolls were up 1.5 percent over the previous 12 months while the U.S average gain was 1.7 percent.

Dye said auto sales will continue to grow, but at a slower pace. "We expect auto sales to continue to increase moderately in 2014, supporting the Michigan economy, but the lift to the state economy from the recovery in the auto industry is easing as vehicle sales inch closer to their eventual upper limit," he said.